National Student Loan Data System (NSLDS) for Students
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Paying Off Your Loans

When do I have to start repaying my student loans?
You are entitled to one 6-month grace period after you stop attending a school at least half time. During this grace period, the lender or loan servicer will contact you and tell you how much your payments will be and how to make them. If you go back to school, you can obtain a deferment so you can temporarily postpone payments.

Who should I mail my loan payments to?
Your lender or a loan servicer is responsible for billing and receipt of payments. Many times a lender will hire a company to perform the billing functions for its loans, and this company is referred to as a loan servicer. You can contact your lender or loan servicer for information.

What interest rate will I be paying?
The interest on your educational loans was set by Federal Law and is recorded on your signed promissory note.  You can find the type of interest rate, fixed or variable, for each of your loans on this web site by clicking on a loan and reviewing the details. For lender held loans, contact the lender or lender servicer for your loans to find out the actual interest rate.

Does the amount of principal and interest shown equal the payoff amount?
No. Due to reporting timeframes, the payoff amount can include other charges, fees, and/or costs on your account. You must contact the loan holder/servicer to obtain the payoff amount.

What happens if I don't pay my student loan back?
Borrowers who default on their student loans are reported to credit bureaus, so your credit rating and future borrowing ability will be negatively impacted. In addition, legal action can be taken to require payment through garnishment of wages and withholding of tax refunds.

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